Blend Labs, Inc. (NYSE:BLND) Shares Purchased by ShawSpring Partners LLC

ShawSpring Partners LLC increased its holdings in Blend Labs, Inc. (NYSE:BLNDFree Report) by 6.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,079,165 shares of the company’s stock after acquiring an additional 449,175 shares during the period. Blend Labs makes up about 3.9% of ShawSpring Partners LLC’s holdings, making the stock its 11th largest holding. ShawSpring Partners LLC owned approximately 2.77% of Blend Labs worth $29,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPL Wealth Management LLC acquired a new stake in Blend Labs in the fourth quarter valued at approximately $42,000. Olympiad Research LP purchased a new stake in shares of Blend Labs during the 4th quarter worth $47,000. Trellis Wealth Advisors LLC purchased a new position in Blend Labs in the fourth quarter valued at $57,000. BBR Partners LLC purchased a new position in shares of Blend Labs in the 4th quarter valued at about $60,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Blend Labs during the 4th quarter worth about $70,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Blend Labs Stock Down 0.5 %

NYSE:BLND opened at $3.13 on Wednesday. Blend Labs, Inc. has a 52 week low of $2.08 and a 52 week high of $5.53. The company has a market cap of $811.44 million, a PE ratio of -9.19 and a beta of 1.29. The business’s 50 day moving average is $3.48 and its two-hundred day moving average is $3.92.

Insider Buying and Selling

In other Blend Labs news, insider Brian Kneafsey sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $3.73, for a total value of $111,900.00. Following the completion of the sale, the insider now directly owns 776,759 shares of the company’s stock, valued at approximately $2,897,311.07. This represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.21% of the company’s stock.

Analyst Ratings Changes

BLND has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on Blend Labs from $3.85 to $3.50 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Canaccord Genuity Group reduced their price objective on Blend Labs from $5.75 to $5.25 and set a “buy” rating for the company in a research note on Friday, February 28th. Citizens Jmp raised Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. JMP Securities initiated coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They issued an “outperform” rating and a $7.00 price target for the company. Finally, UBS Group lowered their price objective on shares of Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.91.

Get Our Latest Analysis on Blend Labs

Blend Labs Profile

(Free Report)

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.

Further Reading

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Institutional Ownership by Quarter for Blend Labs (NYSE:BLND)

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